What are 'Durable Goods'- Explanation

Defining DURABLE GOODS-The Easy Way

'Durable Goods' or Consumer Durable Goods may be defined as item of consumption or merchandise which lasts for a very long duration of time even if they are used regularly i.e. the decline in the quality is gradual.They are also known as indestructible goods because they wear out very slowly in spite of regular utilization.

Some Common examples of durable goods are vehicles (it may be self owned or on lease),or any other forms of tool for domestic usage.Other common household durable goods are Television,Microwave Oven,Wardrobe etc.

Benefits of Durable Goods

The most common benefit of purchasing a durable good (also known as 'Hard Goods') is its long life.Hard goods work on the theory of 'Buy Once and Use Forever',thus reducing expenditure overtime.Besides such goods provide you with higher reliability than non-durable goods or dynamic consumer goods like eatables (for example).One should practice purchase and use of durable goods for long term benefit and convenience.

Differentiate Between Durable and Non Durable Goods

There are certain differences between durable equipments and the non durable equipments (Often referred to as 'Soft Goods').

The most common of them being the durability.Durable Goods are more long wearing but non durables as the name suggests tend to wear out quickly.Secondly hard goods can be leased but non durable movables cannot be leased out.While Durable goods can be seen as long term Investment but the Non Durable Goods are more of Consumption.Lastly Durable goods are more reliable from the Non Durable counterparts.